Timing of new purchase.

I was hoping to get some input on the timing of purchasing of a new pickup. Obviously things are weird as hell right now, but I figured there may be some input here I hadn't thought of.

My situation- I currently drive an FJ Cruiser that has been a great vehicle, but has had a lot of wear and tear and is kind of becoming a money pit. While dealing with a recent issue, I spoke with the local dealership, and was blown away by the trade-in value on the FJ. I was also disappointed to see that the prices of Tacomas has gone up so much since I last priced them pre-Covid. Not really surprising though, given everything that's going on.

It seems I can get a TRD O/R locally, but I'd likely have to overpay a little bit in options to get what I want.

So my question is- should I pounce now while the trade in is so high on the FJ, knowing I may overpay a little on the new pickup, or wait a year and see if the situation changes when the shortages are sorted out, and I can get the exact pickup I want? If the prices on the Tacomas comes back down a little bit, does that mean I'd likely lose that same amount on trade in? Given my current situation, I don't think the mileage on the FJ will go up significantly in the next year.

Thanks for any input, and I apologize if that has been a common topic. I've been lurking for the last couple weeks and haven't seen a similar thread.

 

I'd sell the FJ privately, don't let the dealer take the profit, Tacomas are expensive but hold their value like your FJ so don't fear buying one if you're ready.

 

It's probably 6 in one, half dozen of the other. If it was me, I'd look for the exact Tacoma I wanted, if I couldn't find it, I'd just hold onto whatcha got. They're gonna both rise n fall somewhat similar to each other. That's just the opinion of a dummy on the intranet though

 

I've never traded in a vehicle before, but am considering it for the first time on this for various reasons that probably aren't worth getting in to.

I will say that the difference between trade-in and private seller prices seem to be much smaller than on any other vehicle that I've gotten rid of. Not sure why that would be.

 

I agree that if you find the one truck that you truly want and it checks all the boxes for your wants/needs, then sure take the best offer and get a new truck. BUT, don't just jump into a new truck unless you're sure. When you start referring to something as a money pit, you start hate it and every time you end up putting more money into it, you hate it more.

Go on carvana, carfax, vroom and kbb - get offers from all. IF they're better than the dealer's offer, print them out, take them to the dealer and leverage them to your advantage. Good luck!

 

In a year I’m betting we won’t recognize this economy so it could be a push on pricing. So I’m in the boat if you can find exactly what you want go for it now truck will hold it’s value.

 

OP,

Don't apologize ... shooting the shit and talking buying, selling and trading strategy is one of the best things about this forum!

What you are facing right now is a very common challenge that many of us face. It's all good!

Essentially, what you have is a math exercise. My advice to you is to get some numbers and put them on a piece of paper and the decision direction will become much more clear.

For example:

1) What do you reasonably think you could get for your FJ with a private sales? That's a number.
2) What will the dealer offer you for your FJ on a trade in? They should be willing to give you that number.
3) How much is the truck that is at the dealer (or one that the dealer can get for your)?
4) What does the gap / trade in / new buy look like in terms of cost?
5) Run the same exercise for a truck specified exactly the way you want.

The answers to those questions might shed some light on what option is the best one for you.

Definitely post back on what you are thinking ... good folks here may be able to help you make the best decision possible.

 

Also, does your state have a tax savings on trading in a vehicle? It could close the gap between selling it outright to trading it in.

 

Dealers can do a "Dealer search" Write down exactly what you want and take it to the dealer. They search for a match. Thats how I got my '19. They found 2 of them that exactly matched within 50 miles. They then do a dealer trade and bingo, you got your truck.

 

Agree with this point 100% ... that gets rolled up and counted in the trade in versus the private sale. Still a numbers game ... and that is one point definitely worth considering.

 

Suggest that you look at each transaction separately. The sale will be easy, so perhaps spend a little more time and energy finding the new truck. And for doing that, it seems that folks who know which configuration and options they want and call multiple dealers get the best deals.

 

No one can say for sure what's going to happen next year. For me, personally, trade-in isn't a good idea. Try to sell your FJ privately, and then buy privately as well.

 

I was in your same boat a year or so ago. I decided to keep the FJ and buy a new taco. Fast forward till now...I still have the FJ and just sold the taco last week.

 

What do you mean by buy privately? I'm looking at new Tacomas.

 

That was always my plan also, keep the FJ long term, and buy a new pickup eventually that isn't as off-road oriented, like maybe an SR 4cyl. I'd have the FJ for the hills, and the pickup for daily driving/hauling.

Seeing the trade in on the FJ and the string of repairs I've had to do recently has me re-thinking that though.

 

It all just depends how much more you would like a brand new Tacoma compared to your current FJ. Sometimes life does not give us time than we would like to fix and deal with small issues that pop up on older cars. If that’s you right now, sell the FJ now while used values are hot.

 

I think I decided to wait this out for a while. The local dealers aren't exactly accommodating right now, and I'd kind of like to wait and check out the new Frontier before I buy.

Thanks for the help folks.

 

A wise move, frankly. Given how crazy this market is, I really think the smart play is to wait it out. While I bought a 2020 TRD OR right before the whole pandemic, I am really curious to see the new Nissan when it comes out.

Good luck to you ... I have a feeling the longer you wait the better things will work out for you !

 

if you can get what you want at a fair price I'd do it now if not wait.
I bought Last July when not as many were buying but inventory was still tight. I was ready to buy with a large down payment. I feel like I got a good fair deal. I also sold My previous vehicle myself. I didn't ask the dealer I had bought at about a trade in value but the prices I was given at other places before covid were like $950-1500 for my 2006 Liberty CRD. My state does do tax savings giving you the trade value off the purchase price for tax calculation however I was able to sell it for nearly $4000 which was the private party value then. Im sure I came out ahead of trading in. that's something you have to examine each time you buy and sell though.

 

@randy11 - As has already been stated, probably a good idea to sit tight until things settle back down.

As long as monthly repairs for the FJ aren't more than the new Tacoma payment, each month you wait you're better off.